Are you battling to progress different projects that slow to a crawl because resources are arbitrarily pulled off them? Or do your projects collectively seem to use twice the budget for half the effect? In either case, you might see serious benefit by using Primavera Portfolio Management. PPM is the next level up compared to individual project management. It takes a global view of the different activities you have on the go to see how they contribute to overall enterprise goals. It also helps you identify any unnecessary overlap and redundancy – and get those budget dollars to really roll up their sleeves and work properly for you.
From Nobel Prize to Enterprise
Today’s project portfolio management has its roots in developments made earlier in financial investment portfolio management. Looking at the approach in finance can help in understanding the project management context. Investors with a range of opportunities want to build a portfolio of investments that yields the highest possible value for a given accepted level of risk (high ‘efficiency’). Nobel prize winner Harry Markowitz showed that better ROI return can be obtained for lower risk if investors take a holistic view of their portfolio and its overall risk and return, rather than focusing on different investments in isolation. Likewise, what an enterprise really wants is the optimal project portfolio for a given level of risk. PPM helps organizations achieve this.
Primavera Portfolio Management
PPM lets you analyze your collection of projects to identify any poorly performing or overlapping components in projects. Possible changes to projects and returns are examined and assessed using ‘what-if’ modeling, and Investor Maps and dashboards. The global result can be optimized by judicious addition, deletion or modification of project components. You can justify the recovery of missing resources for those hitherto decelerating projects if this is likely to yield a better overall result than leaving them where they are.
Agility in the Market Place
In many sectors, agility is now a major requirement in order to remain competitive. Market requirements now change rapidly in many cases and emerging risks may materialize with little warning. This can then lead to reversals in project priorities and resource allocation. The danger is in silo-style adjustments that could have undesirable effects on both overall efficiency and risk. Instead, PPM lets enterprises rationalize actions for the best effect globally as well as individually, with bridges to Primavera P6 and also Microsoft Office Project Server.
Keeping Your Eye on the Ball Long-Term
The need for efficient project portfolio management exists for large, longer term projects too. Construction, aeronautical, oil and gas projects are just some of the activities that are characterized by budgets of billions and lifecycles as long as a decade or more. PPM helps enterprises adjust dynamically to many different factors, both internal and external. Changes in regulations, variation in market demand and environmental impact can affect the oil and gas sectors in particular, and the perennial challenge of finding talented people and moving with technological change applies to every industry. Once again, Primavera Portfolio Management helps enterprises of all sizes to tune their portfolio, make appropriate project goal adjustments and maximize ROI in the short and the long term.
At LoadSpring, we build tailor-made Project Management IT solutions that come in every size, shape and color. With Primavera Portfolio Management in the cloud, you can be sure all your users have access to project management data via the internet, and customized to exactly what they need without the extra bells and whistles that can quickly drive costs up. The costs to benefits of moving your PPM to the cloud, are clear because we do it faster, simpler and more efficiently.
Do you want to learn more about Primavera Portfolio Management? Ask our team how PPM is ideal for managing just about any type of portfolio from ideation through execution. Call LoadSpring today +1 978.685.9715.